Biopharm Chemicals Co, a pharmaceutical distribution company under Bio Group, has urged the government to speed up its plan to become a member of international bodies to upgrade and increase the competitiveness of Thai pharmaceutical companies.
The Food and Drug Administration (FDA) previously failed to win approval to participate in the Pharmaceutical Inspection Convention and Pharmaceutical Inspection Cooperation Scheme, jointly referred to as PIC/S.
Biopharm marketing director Sakesuk Kasemsuwan suggested the FDA should reapply for the PIC/S standard to raise product quality and pave the way for the export of pharmaceutical products, especially to Asean countries.
"Lack of the PIC/S standard has caused difficulty for Thai pharmaceutical products to be exported to those countries that require the standard," he said.
Singapore and Malaysia have adopted the PIC/S standard.
Biopharm also called on the government to set more effective safeguards to prevent low-priced drugs from China and India from swamping the Thai market, particularly in public hospitals.
Thailand's overall pharmaceutical market is estimated to be worth 120 billion baht. About 70% of products are distributed by hospitals.
Amid fierce competition, Mr Sakesuk said Biopharm would seek to expand its pharmaceutical and food supplement business into Asean to cash in on expected huge potential after the implementation of the Asean Economic Community at the end of 2015.
The company set up its international business department this year for the expansion and is registering its drugs and food supplements in Cambodia, Laos, Myanmar and Vietnam.
Its products will initially be distributed and marketed by local operators but Biopharm may expand using joint ventures if it has a good response.
Biopharm has been established in Thailand for more than 40 years.
Its sales are expected to reach 1.5 billion baht by the end of this year, up about 8% from last year, with about 200 million baht from exports.
The company expects sales from exports will double to 400 million baht in 2016.
It has also set an aggressive sales target of 4 billion baht in sales in the next five years thanks to overseas and domestic expansion.
Biopharm plans to open its own pharmaceutical shop next year to be a showroom for building brand awareness.